Ministry of Trade, Industry and Energy

Central American vice ministers join the 7th round of Korea-Central America FTA talks

     The Ministry of Trade, Industry and Energy's Deputy Minister for Trade Negotiations, Kim Hak-do (center), hosted a meeting with vice ministers of six Central American countries, consisting of Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama on Oct 24 in Seoul as a sideline event of the 7th round of the ongoing Korea-Central America FTA negotiations.   Vice ministers in attendance were Jesus Bermudez, Nicaraguan Vice Minister of Development, I date2016-10-24

Korea, UAE signs deal to set up JV for Bakarah nuclear plant operation

  Trade, Industry and Energy Minister Joo Hyunghwan (left, back row) attended a contract signing for a joint venture deal to operate the four reactors under construction in Bakarah, the United Arab Emirates, with his counterpart Khaldoon al-Mubarak (right, back row), chairman of Executive Affairs Authority for the Emirate of Abu Dhabi.  Korea Electric Power Corp. CEO Cho Hwan-eik (left, front row) and Emirates Nuclear Energy Corporation (ENEC) CEO Mohamed Al Hammadi (right, front row date2016-10-22

Minister Joo visits UAE nuclear power plant construction site

          Minister of Trade, Industry and Energy Joo Hyunghwan (center) visited the Barakah nuclear power plant complex in the United Arab Emirates on Oct 19 to encourage the dispatched Korean workers at the site.   Korea has been building four APR-1400 nuclear reactors with home-grown technology within the complex since 2012. This is the first nuclear power plant in UAE.   The minister checked the status of construction ente date2016-10-21

Korea to operate four nuclear reactors in UAE for 60 years

Korea and the United Arab Emirates signed a deal to set up a joint venture to operate four nuclear reactors under construction in Bakarah ,the United Arab Emirates, on Oct 20 in Abu Dhabi.   Under the deal, the UAE’s nuclear operator and the Korea Electric Power Corporation, the prime contractor for UAE’s first nuclear plant construction, will set up the joint venture to operate the four reactors in Bakarah for the next 60 years.   KEPCO will secure an 18 percent date2016-10-20

Vice Minister Woo attends panel discussion during the 23rd World Energy Congress

      Trade, Industry and Energy Vice Minister Woo Taehee (second from right) attended a panel discussion for new energy businesses at the 23rd World Energy Congress (WEC), held between October 9-13  in Istanbul, Turkey.   The most comprehensive gathering in the global energy scene was designed to address the looming energy “trilemma”—energy security, energy equality, and environmental sustainability.   Vice Minister Woo presented Korea' date2016-10-12

Minister Joo proposes new approaches to bolster Korea-U.S. economic ties at meeting with U.S. business community

    South Korean Trade, Industry and Energy Minister Joo Hyunghwan  delivered a speech on bilateral benefits of the Korea-U.S. free trade agreement and three new ways to bolster  the  Korea-U.S. economic  ties at  the 28th annual plenary meeting of the Korea-U.S. Business Councils, which were co-hosted by the Federation of Korea Industries and the American Chamber of Commerce in Korea (AMCHAM) in  Yeouido, Seoul, on November 10.  About  70 date2016-10-11

KATS recommends consumers stop using Galaxy Note 7

The Korean Agency for Technology and Standards (KATS) under the roof of the Ministry of Trade, Industry and Energy issued three recommendations for consumers and Samsung Electronics, the manufacturer of Galaxy Note 7, on Tuesday following a meeting on Monday which concluded that there is a possibility of a new type of defect in the mobile phone beyond the battery issue.  Below are the three recommendations issued collectively by KATS officials, Samsung Electronics and technological experts date2016-10-11

Minister Joo meets with Japanese business leaders

    Trade, Industry and Energy Minister Joo Hyunghwan (second from right) discussed economic cooperation with over 50 delegates from Keidanren, Japan's big business interest group, led by the chairman Sadayuki Sakakibara, in Seoul on Oct 10. date2016-10-11

Domestic automotive sales and production fell in September

The Ministry of Trade, Industry and Energy announced on Oct 7 that the domestic automotive sales fell 13.8 percent to 128,674 units in September compared with the same period last year, with the end of the special consumption tax cut.   Local car production also dropped 22.7 percent to 258,026 units last month from a year ago mainly due to the prolonged walkout of Hyundai Motor and Kia Motors, the county’s top two automakers.   Affected by the shrinking car production, car export date2016-10-07

Minister Joo attends opening ceremony of ‘Energy Plus 2016’

      Trade, Energy, and Industry Minister Joo Hyunghwan (sixth from right) cut ribbon at the inauguration of 'Energy Plus 2016' held at COEX in Samseong-dong, southern Seoul, on October 5 with over ten industry leaders in attendance, including Han Duck-soo, chair of the Climate Change Center, Chang Se-chang, chairman of the Korea Electrical Manufacturers Association, and Koo Ja-kyun, chairman of the Korea Smart Grid Association.   The annual event is designe date2016-10-05